Real Money

On March 4, 2013, GMXR announced that it failed to make its interest payment on its 9% Subordinated Notes due March 2018, which was due on March 4, 2013. Under the indenture, this failure to pay does not constitute an event of default unless it continues for thirty days; however, it does constitute an event of default under another GMXR debt security, which could potentially trigger cross-default features and acceleration of substantially all of GMXR's indebtedness. GMXR has announced that it has engaged Jefferies & Company, Inc. as financial advisor to assist GMXR in its ongoing exploration of financing alternatives, including a potential restructuring of GMXR's balance sheet in light of its current liquidity and cash needs. GMXR has announced that if it is not able to successfully implement a consensual alternative for restructuring its balance sheet, or in order for GMXR to implement a financial alternative, GMXR may voluntarily seek protection under the U.S. Bankruptcy Code. As of December 31, 2012, we held $12.7 million face amount in GMXR 9% Subordinated Notes due March 2018, with an estimated fair value of $7.4 million. As of December 31, 2012, we recorded a 100% reserve, totaling $0.4 million, or $0.02 per share, on our interest receivable from GMXR as of such date. We sold all 228,853 shares of GMXR common stock held by us in March 2013 for net proceeds totaling $0.8 million.

Conference Call at 11:00 a.m. Eastern Time on March 7, 2013

We invite all interested persons to participate in our conference call on Thursday, March 7, 2013 at 11:00 a.m. Eastern Time. The dial-in number for the call is (877) 303-7617. International callers should dial (760) 666-3609. The call will also be accessible via the internet, on our Investor Relations page at www.ngpcrc.com .

NGP CAPITAL RESOURCES COMPANY

CONSOLIDATED BALANCE SHEETS

(In Thousands, Except Share and Per Share Amounts)

December 31,

December 31,

2012

2011

Assets

Investments in portfolio securities at fair value

Control investments - majority owned

(cost: $8,140 and $0, respectively)

$ 8,608

$ 150

Affiliate investments

(cost: $16,280 and $36,778, respectively)

13,153

13,498

Non-affiliate investments

(cost: $193,332 and $135,824, respectively)

191,853

131,409

Total portfolio investments

213,614

145,057

Investments in U.S. Treasury Bills at fair value

(cost: $45,996 and $0, respectively)

45,996

--

Total investments

259,610

145,057

Cash and cash equivalents

47,655

106,570

Accounts receivable and other current assets

732

1,442

Interest receivable

1,876

792

Prepaid assets

2,449

2,720

Total current assets

52,712

111,524

Total assets

$ 312,322

$ 256,581

Liabilities and net assets

Current liabilities

Accounts payable and accrued expenses

$ 1,372

$ 739

Management and incentive fees payable

1,305

1,190

Payables for investment securities purchased

--

417

Dividends payable

3,363

3,893

Income taxes payable

515

66

Short-term debt

45,000

--

Total current liabilities

51,555

6,305

Deferred tax liabilities

1

10

Long-term debt

59,500

50,000

Total liabilities

111,056

56,315

Commitments and contingencies

Net assets

Common stock, $.001 par value, 250,000,000 shares authorized;

21,020,077 and 21,628,202, shares issued and outstanding

21

22

Paid-in capital in excess of par

251,294

255,486

Undistributed net investment income (loss)

(913)

(518)

Undistributed net realized capital gain (loss)

(48,113)

(30,286)

Net unrealized appreciation (depreciation) on investments

(1,023)

(24,438)

Total net assets

201,266

200,266

Total liabilities and net assets

$ 312,322

$ 256,581

Net asset value per share

$ 9.57

$ 9.26

NGP CAPITAL RESOURCES COMPANY

CONSOLIDATED STATEMENTS OF OPERATIONS

(In Thousands, Except Per Share Data)

Quarter Ended December 31,

For The Year Ended December 31,

2012

2011

2012

2011

2010

Investment income

Interest income:

Control investments - majority owned

$ --

$ --

$ --

$ 8,605

$ 4,180

Affiliate investments

468

352

1,728

1,325

3,674

Non-affiliate investments

4,471

4,353

18,638

15,587

13,153

Dividend income:

Non-affiliate investments

1,007

--

1,917

--

--

Royalty income (loss), net of amortization:

Control investments - majority owned

--

--

--

1,195

1,792

Non-affiliate investments

91

230

523

1,031

(845)

Other income

76

34

563

160

1,631

Total investment income

6,113

4,969

23,369

27,903

23,585

Operating expenses

Interest expense and bank fees

762

330

2,018

1,473

1,261

Management and incentive fees

1,305

1,160

4,580

5,422

5,548

Professional fees

304

254

1,098

1,065

878

Insurance expense

180

181

721

728

741

Other general and administrative expenses

816

858

3,143

3,346

3,663

Total operating expenses

3,367

2,783

11,560

12,034

12,091

Income tax provision (benefit), net

(8)

25

46

60

54

Net investment income

2,754

2,161

11,763

15,809

11,440

Net realized capital gain (loss) on investments

Control investments - majority owned

(107)

(180)

(143)

(32,978)

(33,298)

Affiliate investments

(21,758)

--

(21,758)

--

--

Non-affiliate investments

2,842

--

4,535

2,364

22

Benefit (provision) for taxes on realized gain (loss)

(461)

--

(461)

--

--

Total net realized capital gain (loss) on investments

(19,484)

(180)

(17,827)

(30,614)

(33,276)

Net unrealized appreciation (depreciation) on investments

Control investments - majority owned

500

--

350

18,680

27,611

Affiliate investments

21,670

(431)

20,604

(22,197)

(1,934)

Non-affiliate investments

(5,625)

(1,868)

2,452

(1,588)

5,500

Benefit (provision) for taxes on unrealized

appreciation (depreciation) on investments

2

19

9

22

1,133

Total net unrealized appreciation (depreciation)

on investments

16,547

(2,280)

23,415

(5,083)

32,310

Net increase (decrease) in net assets resulting

from operations

$ (183)

$ (299)

$ 17,351

$ (19,888)

$ 10,474

Net increase (decrease) in net assets resulting

from operations per common share

$ (0.01)

$ 0.01

$ 0.81

$ (0.92)

$ 0.49

Dividends declared per common share

$ 0.16

$ 0.18

$ 0.57

$ 0.72

$ 0.69

Weighted average shares outstanding - basic and diluted

21,198

21,628

21,429

21,628

21,628

Quarter Ended December 31,

For The Year Ended December 31,

Per Share Data (1)

2012

2011

2012

2011

2010

Net asset value, beginning of period

$ 9.70

$ 9.45

$ 9.26

$ 10.90

$ 11.10

Net investment income

0.13

0.10

0.55

0.73

0.53

Net realized and unrealized gain (loss) on investments

(0.14)

(0.11)

0.26

(1.65)

(0.04)

Net increase (decrease) in net assets resulting from

operations

(0.01)

(0.01)

0.81

(0.92)

0.49

Dividends declared

(0.16)

(0.18)

(0.57)

(0.72)

(0.69)

Other (2)

0.04

--

0.07

--

--

Net asset value, end of period

$ 9.57

$ 9.26

$ 9.57

$ 9.26

$ 10.90

(1) Per Share Data is based on weighted average number of common shares outstanding for the period.

(2) Represents the impact of common stock repurchases.

About NGP Capital Resources Company

NGP Capital Resources Company is a closed-end, non-diversified management investment company that has elected to be regulated as a business development company under the Investment Company Act of 1940. We principally invest in private companies and from time to time, we may also invest in public companies. We invest primarily in senior secured and mezzanine loans according to our business plan and in some instances receive equity interests in portfolio companies in connection with such investments. Our manager is NGP Investment Advisor, LP, an affiliate of NGP Energy Capital Management, L.L.C. ("NGP ECM"). Founded in 1988, NGP ECM is a premier investment franchise in the natural resources industry, which together with its affiliates has managed $13 billion in cumulative committed capital since inception.